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The fur has really been flying lately—off the racks, that is. Despite concerted opposition by animal-rights groups, the price of mink has more than doubled, on average, in the past 10 years, and it's expected to at least remain stable this year.

That's according to the International Fur Trade Federation, an association of 42 national fur-trade groups around the world. It says that the average price per mink skin rose to $42 in 2010, with the highest quality selling for $101.

"Fur sales have been more than holding their own, in spite of the recession," says Andy Lenhart, the trade federation's chairman. He credits rising demand from Russia and China, though sales were strong even in Europe and North America.

Fur Friends: Strong demand for mink in emerging nations has more than doubled prices in the past 10 years.
William Waitzman for Barron's

"Worldwide, weather has worked in favor of fur," says Diane Benedetti, vice president, marketing, of North American Fur Auctions. The auction house will hold one of its two 2011 auctions starting on Feb. 17 in Toronto. She sees prices holding steady or rising a bit.

That forecast may be conservative. In late January, a sable auction in St. Petersburg saw prices rise 20% to 40% from a year ago, Lenhart says.

Though Benedetti notes that traditional fur coats have become somewhat passé in the U.S. because of Americans' casual lifestyle, fur accessories are becoming "extremely popular."

Dan Mathews, senior vice president of People for the Ethical Treatment of Animals, agrees that in the U.S., "people don't find regular old-fashioned fur coats attractive." He notes that some retail chains, including H&M and Forever 21, have adopted formal anti-fur policies. But he says that Peta is still somewhat out in the cold in places like China, where "people haven't gotten these messages before."

Last Week: Review

What's Up With Payrolls?

Nonfarm payroll growth disappointed in January, with employers adding just 36,000 jobs, far fewer than the 146,000 forecast. Winter storms were blamed, and the Labor Department noted that 886,000 people were unable to work because of the January weather, while 417,000 is the average. The prior two months' payrolls were revised up by 40,000. On an equally surprising note, the jobless rate fell to 9.0%, the lowest level since April 2009.

Madoff Redux

JPMorgan ChaseJPM 0.43468045112781956%JPMorgan Chase & Co.U.S.: NYSEUSD85.49
0.370.43468045112781956%
/Date(1481320816956-0600)/
Volume (Delayed 15m)
:
14283053AFTER HOURSUSD85.48
-0.01-0.011697274535033338%
Volume (Delayed 15m)
:
284149
P/E Ratio
14.739655172413793Market Cap
304581834359.245
Dividend Yield
2.245876710726401% Rev. per Employee
421457More quote details and news »JPMinYour ValueYour ChangeShort position
was charged with being "at the very center" of Bernard Madoff's fraud; bank officials allegedly discussed whether he was operating a Ponzi scheme, according to a recently unsealed lawsuit by the trustee seeking to recover money for Madoff's victims. The suit is seeking $6.4 billion. JPMorgan said in a statement the suit "is meritless" and denied the bank knew of or became party to the fraud. A suit against the two New York Mets owners was also unsealed; they said they "categorically reject" the charges in it.

As January Goes?

The Dow Jones Industrial Average rose 2.7% in January, the first January monthly gain in four years. That's viewed by some as a positive sign for the full year. The Dow and the Standard & Poor's breached levels unseen since June 2008; the Dow rose 2.27% on the week to 12,092, and the S&P 2.71% to 1311.

Inflation No Sensation

The Fed's Ben Bernanke rejected complaints by other countries that the central bank was putting pressure on food and energy prices. He blamed accelerating growth in emerging markets. The ECB head dimmed prospects for a rate rise.

A Fluid Situation

Egyptian President Hosni Mubarak said he would step down in September, and neither he nor his son would stand for re-election. Mass protests continued in Egypt, with government supporters clashing with protesters. Despite pressure from the U.S., it seemed unlikely the regime would change soon.

Health Law Challenges

A Florida federal judge ruled against the health law, saying that requiring people to buy insurance or pay a fee is unconstitutional. Virginia plans to bypass the appeals court and take its challenge directly to the Supreme Court. The Senate rejected a bid to repeal the law.

Chugging Along

In a surprise, U.S. manufacturing jumped in January to the fastest pace in more than six years, while the Chicago Purchasing Managers Index rose to its highest level since 1988. Both vehicle sales and retailers' sales outpaced expectations.

Back to the Dividend

BP
restored its dividend after posting strong earnings and said it hopes to raise almost $4 billion from the sale of nearly half of its U.S. refinery business.

Pay Grade

Total compensation at publicly traded Wall Street banks and securities firms rose to a record $135 billion in 2010, according to an analysis by The Wall Street Journal.